The Economic Recovery Package: A Doable Deal

News & Politics

TODAY: After filibuster squelched in Senate, final econ recovery vote NOON ET, House-Senate conf follows. Treasury announcement on financial bailout 11 AM ET. Presidential town hall in Florida NOON ET.

TOMORROW: Thinking Big Conference featuring Paul Krugman, more below.

Rapid compromise?

Bloomberg on House-Senate econ recovery negotiations: "'I’m confident that we can get it done by Friday,' said Senate Majority Leader Harry Reid..."

Depsite moderate posturing, Senate bill has larger price tag than $819B House bill. W. Post: "A report from the Congressional Budget Office, issued as the Senate was voting last evening, produced a new cost estimate for that chamber's legislation, increasing it from $827 billion to $838 billion. Almost all of the increase was due to an amendment, offered by Sen. Christopher J. Dodd (D-Conn.) and accepted unanimously last week, that limits bonuses to the top 25 executives at firms and corporations that receive assistance from the $700 billion financial plan. The Dodd provision means that the Treasury will take in less tax revenue because of the slashed bonus structures, according to the CBO."

USAction/TrueMajority launches new web ad campaign knocking obstructionist conservatives:

Bloomberg: "Economists who support legislation to stimulate growth say the version passed in the House of Representatives would create at least half a million more jobs than the bill the Senate votes on today."

Economist James Galbraith interviewed by Air America's Ron Reagan Jr., says Senate moderates "took a pretty good bill [from the House] and made it substantially worse."

Juan Cole slaps NBC's Chuck Todd for, in his question to the President, blaming the recession on consumer spending.

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